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Modesto California Form 668-W(c)(DO): What You Should Know

What Are The Limitations on Levy on Wages? If you are a self-employed small business and the IRS issues an assessment against your earnings, the assessment will be subject to a limit. No matter who your employer, and how you earn your income, there are limitations on the amount the IRS may levy from your wages. The following three conditions must be fulfilled in order for the IRS levy to be effective: The IRS can levy only a minimum of one-half of your net earnings or gross receipts from business if you are an individual and the earnings of your trade or any of your business' profits; or, you, or either you or your spouse or dependent child earned more than your net earnings and your net income. If your total annual net earnings or gross receipts from, or net self-employment income exceed your net earnings and gross receipts from, your trade or business, you may be subject to a minimum levy amount. For instance, the IRS must charge your net earnings less any income taxes withheld from your earnings for the year, then your net earnings from your job. These “total net earnings” limitations do not apply to a levy against your self-employment income from self-employment activities of your spouse. The total net earnings or gross receipts from, or the net earnings and gross receipts from your trade or business, does apply if your net earnings or gross receipts from a trade or business exceed your net earnings and gross receipts from your trade or business or your total annual net earnings. The IRS cannot levy your net income from self-employment activities if your individual net earnings (except net self-employment income) from self-employment activities do not exceed your individualized net earnings limit. This can include net self-employment income from self-employment activities from a spouse or any dependent you have. The IRS may not levy any of your net self-employment income from any other source to which you are not subject. If your net earnings or net self-employment income is more than your net earnings and gross receipts from your trade or business, the IRS may assess a penalty for excess earnings and excess income tax.

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